LenderBradford's Blog

Median or Average,  What is the difference.  Here are the Definicians for Dictionary.com Median - Arithmetic, Statistics. the middle number in a given sequence of numbers, taken as the average of the two middle numbers when the sequence has an even number of numbers: 4 is the median of 1, 3, 4, 8...

Later this year there is a planned change to the Good Faith Estimate the consumers will see.  Here is what the form will look like.   Like most attempts to protect consumers I believe the form itself does little to actually educate consumers.  On page 3 of the form it allows a Loan Originator the...

Did you know that Third Federal is now requiring 10% down on any purchases? Did you know that Third Federal no longer waives the PMI with 10% Down? Do you know that they do not participate in the OHFA programs most importantly the MCC program? Did you know that there closing costs are a few hundr...

April Fools   I just had to do something today.   On the serious side, how about anyone in the Midwest report in and let others know if they hear of any one that really got hit with the Conficker Virus.   And if you do hear of someone that was hit, share with everyone how they removed the virus.   

Earlier this month Khash Saghafi posted this FHA Appraisal Changes To Potentially Hurt Market Even More -- Ouch! regarding a new form that Appraisers will be required to complete when they do appraisals.  I am not sure how good or bad this will be for our industry.  The form is an attempt by the ...

This is a great video that we all need watch.  It really explains the Credit Issue in a fashion that we all can understand.  I would suggest that we all take a moment and watch it. The Crisis of Credit Visualized from Jonathan Jarvis on Vimeo.  Please let me know what you think or is it too simpl...

Below is and excert from the Mortgagee Letter that was issed March 27, 2009 as guidance for the purchase of a home using a Reverse Mortgage.  To qualify for a reverse mortgage in the United States, the borrower must be at least 62 years of age. MORTGAGEE LETTER 2009-11 On October 20, 2008, the Fe...

THis is a very good summary of the HUD-1 and Good Faith Estimate. Christopher Shearer A. Specific Settlement Costs This part of the Booklet discusses the settlement services which you may be required to get and pay for and which are itemized in Section L of the HUD-1 Settlement Statement. You als...

Below is an example of what a page peel looks like.  There are only 5 files required to have a PagePeel on your page.  This is the code that I use to include the Peel Advertisement and also remove the peel when the page is printed. Check out the link in this frame. You can alter the link to any w...

Great Information about places in Solon Ohio.  If you are relocating to Solon, Ohio, rest assured, there is plenty of shopping in and around the area. You will be able to keep up with the latest fashions and the local dining is sure to please even the most finicky of palates. The grocery shopping...